Credit Card Reporting Question

[ddemari]

I am not proud of this but I am going to share because it was a big blow to me this morning... after I posted about a recent approval with Chase, I log into my Bank of America account and see my credit card has been closed. 

I called BOA and they told me the bank is uncomfortable with the amount of credit I have available and tradelines opened. They are keeping my account closed. 

This happens two weeks after they flooded me with balance transfer offers and I transfered 2k to my card. Now the account is closed with a 2k balance.

Is the reporting of this going to kill me? Also, I should have asked them since I transfered with a 0% apr offer, now that the account is closed will I be paying interest? 

[jsucool76]

you won't be paying interest. the terms are fixed(I think, Def get a 2nd opinion)

won't look good but you should be fine.

sorry to hear this

[ddemari]

Thanks! This was a nice birthday surprise for me for sure.

[SOGGIE]

Ewww! Sorry to hear that OP! I hope this does not happen to me. I've heard some report of accounts closing after BTs. Funny how banks encourage BT, then punish consumers for it.

[Anonymous]

Happy birthday. Sorry to hear this but thanks for sharing and making us think twice before we do something we may want, not need, and then regret. 

[Saleen099]

Happy Birthday. Sorry  to hear they did that. Definitely call and doublecheck. 

[FinStar]

It is unfortunate that you had to find out about it this way and that they closed your BOA account but it goes to show folks that banks routinely keep a close eye on things from a risk perspective.  AA is definitely no pic-nic.

I would definitely try to get that balance paid down or retired as soon as possible since this would impact how the account will report.  And, probably keep a low profile for a while until things stabilize with your recent apps/accounts.

[Anonymous]

---

@ddemari wrote:

I am not proud of this but I am going to share because it was a big blow to me this morning... after I posted about a recent approval with Chase, I log into my Bank of America account and see my credit card has been closed. 

I called BOA and they told me the bank is uncomfortable with the amount of credit I have available and tradelines opened. They are keeping my account closed. 

This happens two weeks after they flooded me with balance transfer offers and I transfered 2k to my card. Now the account is closed with a 2k balance.

Is the reporting of this going to kill me? Also, I should have asked them since I transfered with a 0% apr offer, now that the account is closed will I be paying interest? 

---

What is your total credit line?

[ddemari]

I am going to take money out of savings and just pay it off. But it will probably take me 2 months since i expected 0 apr until may 2017 lol.

[ddemari]

My total credit line on the boa card was 7.5k